Rare blue diamond expected to fetch record price at forthcoming auction

A rare 7.03-carat blue diamond is expected to go for up to USD $ 8.5 million when it is auctioned in Geneva on May 12 by Sotheby’s. The stone, which was cut from a 26.58-carat diamond in the rough, is slightly smaller than a dime. It was unearthed last year at the Cullinan mine in South Africa.